Apollon Wealth Management LLC Lowers Stake in Blackstone Mortgage Trust, Inc. $BXMT

Apollon Wealth Management LLC lowered its holdings in shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT) by 49.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,137 shares of the real estate investment trust’s stock after selling 42,436 shares during the period. Apollon Wealth Management LLC’s holdings in Blackstone Mortgage Trust were worth $845,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. UBS Group AG increased its stake in shares of Blackstone Mortgage Trust by 24.4% during the third quarter. UBS Group AG now owns 3,082,005 shares of the real estate investment trust’s stock valued at $56,740,000 after purchasing an additional 603,588 shares in the last quarter. Bamco Inc. NY boosted its position in shares of Blackstone Mortgage Trust by 17.9% in the 4th quarter. Bamco Inc. NY now owns 2,000,621 shares of the real estate investment trust’s stock worth $38,272,000 after purchasing an additional 304,307 shares in the last quarter. Norges Bank purchased a new stake in shares of Blackstone Mortgage Trust in the 4th quarter worth approximately $38,239,000. Goldman Sachs Group Inc. grew its stake in shares of Blackstone Mortgage Trust by 19.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,607,185 shares of the real estate investment trust’s stock worth $30,745,000 after buying an additional 264,256 shares during the last quarter. Finally, Invesco Ltd. increased its position in Blackstone Mortgage Trust by 25.7% during the 4th quarter. Invesco Ltd. now owns 1,354,870 shares of the real estate investment trust’s stock valued at $25,919,000 after buying an additional 277,280 shares in the last quarter. Hedge funds and other institutional investors own 64.15% of the company’s stock.

Blackstone Mortgage Trust Stock Performance

BXMT opened at $17.23 on Friday. The company’s 50-day simple moving average is $18.30 and its two-hundred day simple moving average is $19.02. The stock has a market capitalization of $2.91 billion, a P/E ratio of 28.25 and a beta of 0.90. Blackstone Mortgage Trust, Inc. has a 52-week low of $16.88 and a 52-week high of $20.67.

Blackstone Mortgage Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a $0.47 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $1.88 annualized dividend and a yield of 10.9%. Blackstone Mortgage Trust’s dividend payout ratio (DPR) is currently 308.20%.

Insider Buying and Selling

In other Blackstone Mortgage Trust news, President Fernando Austin Pena sold 1,670 shares of the business’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $17.07, for a total transaction of $28,506.90. Following the completion of the sale, the president directly owned 72,899 shares in the company, valued at approximately $1,244,385.93. The trade was a 2.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 5,420 shares of company stock valued at $95,233. Insiders own 1.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Keefe, Bruyette & Woods lowered their price objective on Blackstone Mortgage Trust from $20.50 to $20.00 and set an “outperform” rating for the company in a research note on Friday, June 26th. UBS Group began coverage on Blackstone Mortgage Trust in a research note on Tuesday, June 2nd. They issued a “buy” rating and a $21.00 target price on the stock. Weiss Ratings lowered Blackstone Mortgage Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday. JPMorgan Chase & Co. lowered their price target on Blackstone Mortgage Trust from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Finally, Zacks Research cut shares of Blackstone Mortgage Trust from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 22nd. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Blackstone Mortgage Trust has an average rating of “Moderate Buy” and a consensus price target of $21.00.

Blackstone Mortgage Trust Profile

Blackstone Mortgage Trust, Inc (NYSE: BXMT) is a publicly traded real estate finance company that originates, acquires and manages commercial mortgage loans and other CRE debt investments. As an externally managed real estate investment trust (REIT), it seeks to generate attractive risk-adjusted returns through the deployment of senior floating-rate and fixed-rate loans backed by income-producing properties.

The firm’s core business activities span the origination of senior mortgage loans, the acquisition of loan portfolios and other real estate debt instruments, and the active management of those investments.